Oberoi Group firm EIH Associated Hotels today said it will close Trident Jaipur for the next fiscal year to carry out renovation work.
"At the Board meeting held today, it was decided to close the company's hotel, Trident Jaipur from April 1, 2018 to March 31, 2019 for renovation", EIH Associated Hotels said in a filing to BSE.
The company, however, did not provide details about what it intends to do with the staff employed in the hotel.
In a separate filing, the company said its Board has recommended a dividend of Rs 4.50 per share for the financial year 2016-17.
The company has posted a standalone net profit of Rs 18.15 crore for the quarter ended March 31, 2017 as against Rs 18.58 crore for the same period a year ago.
Standalone total income of the company stood at Rs 88.41 crore for the quarter under consideration. It stood at Rs 83.79 crore for the same period a year ago.
Shares of EIH Associated Hotels today closed at Rs 384 per scrip on BSE, down 4 per cent from previous close.
Disclaimer: No Business Standard Journalist was involved in creation of this content
